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Untapped potential to be explored in Pacific social enterprise

Untapped potential to be explored in Pacific social enterprise

  • 18 Nov 2022
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(Picture caption: The Pacific Aotearoa Community Outreach (PACO) 3.0 Social Enterprise Fund will explore the significant opportunity to increase Pacific prosperity through social enterprise.)

The Pacific Aotearoa Community Outreach (PACO) 3.0 Social Enterprise Fund will explore the significant opportunity to increase Pacific prosperity through social enterprise, says Minister for Pacific Peoples Hon Aupito William Sio.

The recent round of PACO funding was launched alongside the expansion of the Pacific Business Village and round two of both the Tauola Fund and Pacific Business Networks and Provider Fund at an event staged at the Auckland Airport Holiday Inn on Friday.

Minister Sio says Pacific social enterprise is an untapped area of opportunity for Pacific communities, which the Ministry for Pacific Peoples (MPP) is eager to explore.

“Initially, the PACO Fund was established to enable more frequent and responsive engagements between government and Pacific communities to keep Pacific peoples informed and supported during the country's response to COVID-19,” Minister Sio explains.

“The first two rounds of funding have revealed Pacific communities are responding to their social, cultural and economic needs but are reliant on charitable contribution, volunteer and unpaid work.

“So, we acknowledge our investment in community-based initiatives is likely to effect social change and outcomes.

“Additionally, the support and access to business advice, capital and funding including planning for growth and sustainability for Pacific social enterprises are limited and unexplored.

“These are the types of opportunities to be addressed through the allocated $2m over four years to invest in Pacific social enterprise, as outlined in Budget 2022.”

The latest round of PACO funding aims to create and enhance the opportunity of Pacific social enterprise organisations to grow, increase community wealth, improve labour market participation, and understand the Pacific social enterprise landscape and its contribution to improve economic and social wellbeing of Pacific communities.

The Ministry for Pacific Peoples is encouraging groups and individuals to apply for round three of the PACO Fund, especially those who align with the Ministry’s desired outcomes of watching Pacific social enterprises become increasingly resilient and sustainable, increased employment opportunities through social enterprise, and improved community wealth, economic and social wellbeing opportunities.

“Applications are now open until January 27, 2023 – and I urge you to make the most of this opportunity which we believe will have a great impact on Pacific prosperity and wellbeing in Aotearoa,” Minister Sio says.

Visit the MPP website for more information and to apply for the PACO 3.0 Social Enterprise Fund.